The Minister of Petroleum and Mineral Resources, Tarek El Molla, announced that the new discovery of North Hammad concession in Delta is going to initially producing natural gas at a rate of 32 million cubic feet per day (mmcf/d).
Prime Minister Mostafa Madbouly reviewed an incentive scheme for converting old vehicles to
run on natural gas in addition to a strategy for manufacturing electric vehicles.
The Chairman of Egypt Gas company, Wael Gowayed, has met with the Chairman of Industrial Development Bank, Maged Fahmy, to discuss cooperation between the two parties
El Hamra Oil Company organized a Safety Stand-Down under the leadership of the company’s Chairman and Managing Director, Ahmed El Sherif, which asserts the company’s intertest in health, safety and environment (HSE) under the slogan “Safety Is First”.
Schlumberger utilized Pulsar Multifunction Spectroscopy (PNX) technology for the first time in Egypt with the General Petroleum Company (GPC).
The General Petroleum Company (GPC) has made a new natural gas discovery in Abu Sennan concession producing 28 million cubic feet per day (mcbf/d) in addition to 1,180 barrels of condensates per day of API 64° when it is opened one inch.
Minister of Petroleum and Mineral Resources Tarek El Molla stated that the prices of oil per barrel during the current year could reach between $40-50.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, confirmed that the ministry is targeting to convert about 50,000 cars to run on natural gas during fiscal year (FY) 2020/2021 and is currently studying to increase that number in light of the official plan to expand the use of natural gas as fuel for car.
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
Approximately 42,000 cars were converted to run with dual fuel of natural gas and diesel in 2020, indicating a 25% increase over the previous fiscal year (FY). This brings the total number of converted cars that since the start of the project to about 320,000 cars.
